Hot Pursuit     07-Jun-23
G R Infra gains as arm executes concession agreement with NHAI
G R Infraprojects rose 1.45% to Rs 1,287.05 after the company's wholly owned subsidiary, GR Hasapur Badadal Highway, executed concession agreement with National Highways Authority of India (NHAI) for Rs 872.17 crore on 6 June 2023.`
The agreement constitutes construction of six laning of Surat - Nashik - Ahmednagar - Solapur -MH/KNT border greenfield stretch in the state of Maharashtra to be executed on hybrid annuity mode under Bharatmala Pariyojana.

The bid project cost stood at Rs 872.17 crore. The completion of the project is expected to be within 730 days from appointed date. The operational period stands for 15 years from commercial operation date.

G R Infraprojects is an integrated road engineering, procurement and construction (EPC) company largely focused on road sector. The company has also recently diversified into projects in the railway sector.

The company's consolidated net profit jumped 40.9% to Rs 389.68 crore on 2.7% rise in revenue from operations to Rs 2,461.96 crore in Q4 FY23 over Q4 FY22.

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